Artesian Resources Corporation Forecast and Stock Analysis
Technical ARTNA stock analysis for Friday June 14, 2019.
Artesian Resources Corporation fell by -1.79% in the last day ( Friday, 14th Jun 2019 ) from $37.89 to $37.21 and has now fallen 3 days in a row. During day the stock fluctuated 2.91% from a day low at $37.07 to a day high of $38.15. The price has risen in 7 of the last 10 days and is up by 4.49% over the past 2 weeks. Volume has increased in the last day by 4 438 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 9 689 shares bought and sold for approximately $360 528.00.
Quick summary:
- 30 day high of the ARTNA stock price was $38.50 and low was $35.13.
- 90 day high was $40.40 and low was $34.32.
- 52 week high for the Artesian Resources Corporation - $40.97 and low - $32.27.
Trend
Artesian Resources Corporation lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.07% during the next 3 months and, with 90% probability hold a price between $33.31 and $37.43 at the end of this period.
Signals
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday June 12, 2019, which indicates further falls until a new bottom pivot has been found. Artesian Resources Corporation gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". Artesian Resources Corporation holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $37.71. On a fall, the stock will find some support from the long-term average at approximately $36.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 53 and the stock is currently not being overbought or oversold
Support & Resistance
Artesian Resources Corporation finds support from accumulated volume at $36.71.
Risk
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.08 (2.91%) between high and low. For the last week, the stock has had a daily average volatility of 2.00%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
2.00 %
Average volatilityOverall risk:
Very Low Low Medium High Very High
Evaluation:
Artesian Resources Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
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